ICL-KME CS Reports First Half 2010 Revenue Growth of 55 Percent
As reported by ICL-КME CS its revenues in the first half of 2010 increased to 928.5 million rubles. This is up 55 percent compared to H1 2009 (597.5 million rubles) and up 59 percent compared to the same period of pre-crisis 2008 (583.5 million rubles).
The Company shows the maximum growth rate of 228 percent in computer hardware production and maintenance services and that of 140 percent in offshore business including application services and remote infrastructure management.
The fact remains that the Company maintains its sales volume in the local market at 20 percent for several years running and it does the major part of its business outside the Republic of Tatarstan. “This is a proof of our business stability, and it shows that the services we provide are in demand across Russia,” says Victor Diachkov, General Director, ICL-KME CS.
The offshore business increases along with the revenues growth. “This half-year period the offshore business is taking 19 percent of total sales revenues, which is comparable to our local market presence,” says Victor Diachkov. “We are proud to say that we can provide world-class services here, in Kazan, and make them available not only for our partners in the West but also for our customers in Russia.”
The top managers are optimistic about Q3 2010. The reason for this are the large contracts awarded as a result of competitive public bidding to deliver computer hardware to municipal and state authorities of the Republic of Tatarstan.
Generally, the Company’s performance for the half-year reflects a tendency towards economic stabilization in Russia and worldwide, and growth in the world’s IT spending which will make 6 percent according to IDC’s forecast.
“We’ve managed to exceed the targets we set for the first half of 2010 by 27 percent, and this is despite the fact that we always set ambitious targets for ourselves. The Company’s sales volume growth is significantly higher compared to Russia’s IT market expected to grow between 20 and 25 percent,” says Victor Diachkov. “Companies gradually revert to pre-crisis level of IT budgets diminished last year and start implementing the projects that were tied up during the crisis period.”
